Friday, December 05, 2008

Ripoffs: Not Even Money Saves You From Foreclosure

Ripoffs: Not Even Money Saves You From Foreclosure: "I recently lost my home to foreclosure. The sad part is I tried for the last 30-40 days before the foreclosure to buy my home from the mortgage company for more than the balance owed on the mortgage. By this time, the mortgage had been referred to a local law firm, which wanted almost $20,000 in fees above the balance of the mortgage. They would not negotiate at all. A friend was helping me try to save my home, but the $20,000 in fees on top of the $100,000 owed was insurmountable."
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Thanks to Mystery Reader who sent the link to this sad story. In HOA and condo foreclosures we hear often of attorney fees being many times more than the amount of assessments owed. Now here is a mortgage company foreclosure where the fees prevented redemption.

3 comments:

Anonymous said...

I'd like to Post a Comment

There is more foreclosure grants and bailout money available for you! Claim your free bailout money!

Anonymous said...

Evan, the events in this story cannot possibly be legal, can they? It sounds like the involved parties colluded so that one of them could purchase the property for a reduced price. I hope this guy documented his early contacts with the realtor so that he can drag any corruption into the open.

Anonymous said...

Beth,
TRY dragging corruption into the open in the foreclosure industry! The most unthinkable, horrible, illegal, unethical personally and financial damaging, are those conspired, created and carried out against vulnerable populations in HOA's/COA's/CID's!
Do the research and you will realize what has happened, and is happening, to far too many innocent and unsuspecting homeowners. Most become homeless and loose everything they have worked for. YOU EXPOSE THE CORRUPTION!